Lowake, Texas Property Taxes
The median property tax rate in Lowake, TX is 1.41%, which is significantly higher than the national median of 0.99%, though lower than the Texas state median of 1.67%. With a median home value of $110,810 in Lowake, the typical annual property tax bill amounts to $1,563, considerably below the national median of $2,690. Property taxes in Lowake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Gaining a clear understanding of Lowake's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lowake or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lowake, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$1,562
$1,450
Ownwell’s Lowake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lowake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lowake to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Concho County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lowake, Texas
Property taxes in Lowake, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lowake is 1.41%, higher than both the Texas state median and the U.S. national median of 0.99%. Local government entities within Lowake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lowake estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lowake's effective property tax rate to other counties in Texas and the national median. For comparison, the 76855 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Lowake provides valuable insights into the varying tax landscape across Concho County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lowake Tax Rate
1.41%
Average Concho County Tax Rate
1.70%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lowake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76855 | 1.04% | 1.31% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Lowake, Texas
In Lowake, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Concho County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lowake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lowake is $1,563 in the 76855 zip code, while the lowest median tax bill is also $1,563 in the same zip code.
Average Lowake Assessed Value
$110,810
Average Concho County Assessed Value
$75,090
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lowake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76855 | $65,204 | $84,740 | $110,810 | $176,010 | $281,950 |
Source: Ownwell
Property Tax Bills Across Lowake, Texas
In Lowake, located in Concho County, TX, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. Homeowners in Lowake can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,066, while at the 75th percentile, it reaches $2,482. At the 90th percentile, it can go up to $3,732. These variations are influenced by factors such as property size, location, and improvements made to the home. The median home price in Lowake is $110,810, and the property tax rate in Concho County is competitive compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as property taxes directly impact annual expenses. By knowing how the tax bill is determined, homeowners can better plan their finances and possibly explore exemptions or appeals to manage their tax liabilities effectively.
Average Lowake Tax Bill
$1,563
Average Concho County Tax Bill
$1,196
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Lowake, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 76855 | $730 | $1,066 | $1,563 | $2,482 | $3,732 |
Source: Ownwell
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 15 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Concho Appraisal District | |
| Website | esearch.conchocad.org |